MEDGULF 2025 earnings drop 60% to SAR 41.1M; Q4 at SAR 5M

The Mediterranean and Gulf Insurance and Reinsurance Co. (MEDGULF) posted a net profit of SAR 41.1 million in 2025, falling 60% from SAR 102 million a year earlier.

The decline was driven by a 39.61% drop in net investment income to SAR 39.13 million, from SAR 64.8 million in 2024, reflecting lower contributions from equity investments measured at fair value through profit and loss.

Net insurance financing expenses rose to SAR 33.48 million in 2025, compared with SAR 4.58 million in 2024, due to higher paid claims and a lower discount rate.

The company recorded no one-off non-insurance revenue items this year, such as the land disposal in 2024, which had boosted last year’s results, and faced higher nonattributable expenses, including end-of-service costs.

Insurance revenues grew 21.64% to SAR 4.32 billion, from SAR 3.55 billion in 2024, mainly driven by higher volumes and earnings in health and motor segments.

In Q4 2025, the insurer reported a 66% rise in net earnings to SAR 5 million from SAR 3 million a year earlier. Compared to Q3 2025, earnings dropped 72.1% from SAR 17.9 million.

Total shareholders’ equity, with no minority interest, stood at SAR 1.59 billion as of Dec. 31, 2025, compared to SAR 1.02 billion in the prior-year period.

Accumulated losses reached SAR 114.07 million by the end of 2025, accounting for 8.26% of the company’s capital.

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